The document discusses key aspects of the Indian Union Budget announced in 2017, including: - Reduced income tax rates and a higher income tax exemption limit. - Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups. - Measures to promote digital payments and increase transparency in political funding. - Higher allocations for railways, roads, defense, and other infrastructure sectors along with plans for new projects.

1. GROUP MEMBERS:- KAMALDEEP KAUR,
• HANINDER KAUR,
• RAMANDEEP KAUR,
• KHEM SINGH,

3. Introduction,
TEC. India,
New aspects of budget.
Themes of budget:-
Farmers,
Rural population,
Poor and underprivileged,
Youth,
Digital economy,
Infrastructure,
Public service,
Financial sector,
Prudent fiscal management,
Tax administration,

4. A combined Union and Rail budget.
Early announcement of Budget.
No adjournment despite the death of a sitting Parliamentarian.
Abolition of Plan-Non Plan classification.
FIPB abolished.
Reduction in tax rate.
Transparency​ in political funding.

5. is the government agenda to fulfill
high expectations of public.T= Transform
E = Energies
C = Clean India

7. .
• Sowing farmers should feel secure against
natural calamities.
• A sum of Rs.10 lakh crore is allocated as credit
to farmers.
• NABARD funds will be increased to
RS.40000cr.
• Govt. will set up mini labs in Krishi Vigyan
Kendras for soil testing.

8. .
• A model law on contract farming will be
prepared and shared with the states.
• Coverage of fasl Bima yojana to go up from
30% of cropped area ,to 40%in 2017-18 and
50% in 2018-19.

9. .

10. .
• The govt. targets to bring 1cr. Households out
of poverty by 2019.
• Over Rs.3 lakh cr. Will be spent for rural india.
• Will take steps to ensure participation of
women in MNREGA upto 55%.
• Govt. proposes to complete 1cr. Houses for
those without homes.

11. .
• Will allocate Rs.19000 cr. For Pradhan Mantri
Sadak Yojana in 2017-18.
• The country well on the way to achieve 100%
rural electrification by march 2018.
• Allocation raised from Rs. 1.56 lakh cr. To
Rs.1.84 lakh cr. For women and child welfare.

12. .

13. .
• Rs. 500 cr. Allocated for Mahila Shakthi
Kendra’s.
• Under a nationwide scheme for pregnant
women Rs. 6000 will be transferred to each
person.
• Affordable houses will be given.
• Banks have started reducing lending rates for
housing.

14. .
• Elimination of tuberculosis by 2025 target.
• Health sub centers, numbering 1.5 lakh ,will
be transformed into health wellness centers.
• Allocation for scheduled castes is Rs.52393cr.
• Adhaar based smartcards will be issued to
senior citizens to monitor health.

15. • Broad-based skill training: Pradhan Mantri Kaushal Kendra to
be promoted in 600 plus districts. 100 more skill centers will
be established
• Reforms will be undertaken in the University Grants
Commission that governs universities in India
• Additional 5,000 post graduate medical seats per annum will
be launched
• For youth, a system of measuring annual learning will be
introduced and science will be given focus. Good quality
institutions will have more autonomy. Colleges will be given
autonomous status.

16. Will introduce a system of measuring annual learning outcomes and come out
with an innovation fund for secondary education.
Focus will be on 3,479 educationally-backward blocks.
Colleges will be identified based on accreditation.
Skill India mission was launched to maximize potential. Will set up 100 India
International centers across the country.
Courses on foreign languages will be introduced.
Will take steps to create 5000 PG seats per annum.

17. A mission will be set up with a target of over 2,500 crore digital
transaction for 2017-2018 through UPI,USSD, Adhaar pay IMPS and Debit
cards
Political parties will be entitled to receive donations by cheques or in
digital mode.
No transaction above Rs. 3 lakh would be permitted in cash subject to
certain exceptions
To promote cashless transactions the government decides to remove all
duties on point of sale devices, finger print readers and similar devices
Govt. to launch two schemes to promote BHIM app, including cashback
scheme for merchants.

18. •TRANSPARENCY IN ELECTORAL FUNDING
•Need to cleanse the system of political funding in India
•Maximum amount of cash donation, a political party can receive, will be Rs.
2000/- from one person.
•Political parties will be entitled to receive donations by cheque or digital mode
from their donors.
•Amendment to the Reserve Bank of India Act to enable the issuance of electoral
bonds in accordance with a scheme that the Government of India would frame in
this regard.
•Every political party would have to file its return within the time prescribed in
accordance with the provision of the Income-tax Act

19.  FIPB abolished.
 Listing of railway shares.
 Increase in tax landings of Pradhan Mantri Mudra Yojana.
 Formation of CERT.
 Divestment in CPSE’s.
 Recapitalization of banks.
 Online registration of Financial market intermediaries with
SEBI

20. •Abolishment on Plan- non- plan expenditure.
•Total expenditure in budget is 21.47 lakh crore.
•Fiscal deficit – 3.2% in 2017-2018 and 3% for the next year.
•Revenue deficit– 2.1% and will be 1.9% in next year.
•New market borrowings of Govt. restricted to Rs. 3.48 lakh crore after buy- back in
2017-2018.

23. Taxation rates
Income in B/w the 50 Lacs– Rs, 1 crore 10% surcharge on tax payable.
MSME companies, with a turnover of up to
Rs 50 crore .
Reduction by 5%
No transaction in cash will be allowed above Rs 3 lakh
The limit of cash donation by charitable
trusts.
is reduced to Rs 2,000 from Rs 10,000
Deduction on Msala bonds by 5%.
Increase in allowance on NPA’s of bank from 7.5% to 8.5%.
For finger print reader, Micro ATM
manufacturers.
Exemptions from Excise duty and basic
custom Duty

24. INCOME SLAB TAX RATE
Income upto 3 Lakh Nil
Income from 3 Lakh to 5 Lakh 5%
Income from 5 Lakh to 10 Lakh 20%
Income from 10 Lakh to 50 Lakh 30%
Income from 50 Lakh to 1 crore 30%+10%
surcharge
Income above 1 crore 30%+15%
surcharge

25. Income Amount of tax in
previous budget
Tax in current
budget
savings
0-3 3090 0 3090
3-5 20,600 7,725 12,875
5-10 1,28,750 1,15,875 12,875
10-15 2,83,250 2,70,375 12,875
15-20 4,37,750 4,24,875 12,875

27. For transportation sector as a whole, including rail, road , shipping,
provision of ` 2,41,387 crores has been made in 2017-18
RAILWAYS
# For 2017-18, the total capital and
development expenditure of Railways has been
pegged at ` 1,31,000 crores. This includes ` 55,000
crores provided by the Government
# For passenger safety, a Rashtriya Rail Sanraksha
Kosh will be created with a corpus of ` 1 lakh crores
over a period of 5 years .
# The service charge on e-tickets booked
through IRCTC will be withdrawn.

28. #Railway lines of 3,500 kms will be commissioned in 2017-18. During 2017-18, at least 25
stations are expected to be awarded for station redevelopment. .
# 500 stations will be made differently abled
friendly by providing lifts and escalators.
# It is proposed to feed about 7,000 stations
with solar power in the medium
term,beginning has been already made in 300
stations.
# SMS based Clean My Coach Service has
been started
# ‘Coach Mitra’, a single window interface, to
register all coach related complaints and
requirements to be launched

29. # By 2019, all coaches of Indian Railways will be fitted
with bio toilets.
# Government take steps to help railways stay in
competitive (through Tariffs of Railways would be fixed,
taking into consideration costs, quality of service ) from
other forms of transportation dominated by privatisation.
# A new Metro Rail Policy will be announced with focus
on innovative models of implementation and financing, as
well as standardisation and indigenisation of hardware and
software which help to generate new employment
opportunities for youth
# A new Metro Rail Act will be enacted by rationalising
the existing laws. This will facilitate greater private
participation and investment in construction and operation.

30. • ROADS
 In the road sector, Budget allocation for
highways increased from ` 57,976 crores in
BE 2016-17 to ` 64,900 crores in 2017-18
 2,000 kms of coastal connectivity roads
have been identified for construction and
development to facilitate better
connectivity with ports and remote villages.
 Total length of roads, including those under
PMGSY(Pradhan mantri gram sadak yojana),
built from 2014-15 till the current year is
about 1,40,000 kms which is significantly
higher than previous three years

31. # (upgradation of Civil Aviation infrastructure,) Select airports in Tier 2 cities will
be taken up for operation and maintenance in the PPP mode.
# By the end of 2017-18, high speed broadband connectivity on optical fibre cables
will be available in more than 1,50,000 gram panchayats, under BharatNet. A DigiGaon
initiative will be launched to provide tele-medicine, education and skills through
digital technology
#For strengthening our Energy sector,Proposed to set up
strategic crude oil reserves at 2 more locations, namely,
Chandikhole in Odisha and Bikaner in Rajasthan. This will take
our strategic reserve capacity to 15.33 MMT
# Second phase of Solar Park development to be taken up
for additional 20,000 MW capacity.
# A new and restructured Central scheme with a focus on
export infrastructure, namely, Trade Infrastructure for Export
Scheme (TIES) will be launched in 2017-18
# For creating an ecosystem to make India a global hub for
electronic manufacturing a provision of 745 crores in 2017-18
in incentive schemes like M-SIPS(Modified special incentive
scheme) and EDF

33. • The Government e-market place which is now
functional for procurement of goods and
services
• To utilise the Head Post Offices as front offices
for rendering passport services
• A Centralised Defence Travel System has been
developed through which travel tickets can be
booked online by our soldiers and officers
• Web based interactive Pension Disbursement
System for Defence Pensioners will be
established
• To rationalise the number of tribunals and
merge tribunals wherever appropriate

34. SOURCES OF DATA
 http://www.thehindu.com/business/budget/Highlights-of-Union-Budget-2017-
18/article17127298.ece
 https://www.google.co.in/amp/www.news18.com/amp/news/business/union-budget-2017-live-
arun-jaitley-cuts-income-tax-rates-in-a-big-way-1343431.html
 https://www.google.co.in/amp/www.hindustantimes.com/union-budget/budget-2017-arun-
jaitley-live-updates/story-RLKvFroFw9D7oStWeR149J_amp.html
 http://www.timesnow.tv/budget-2017/video/union-budget-2017-sector-wise-takeaways-from-
this-years-financial-plan/55065
 http://www.paisabazaar.com/budget-2017/
 http://www.financialexpress.com/budget/budget-2017-income-tax-exemption-limit-hike-rs-4-
lakh-fm-arun-jaitley/481650/
 http://www.firstpost.com/business/union-budget-2017-govt-seeks-to-end-tax-benefits-under-
rajiv-gandhi-equity-saving-scheme-3241740.html